What's going on with the crypto market?

Regulators and lawmakers in the U.S. increased their scrutiny on the crypto industry and market following the implosion of the Bahamas-based crypto exchange FTX in November last year, which sent shockwaves through Washington DC, where FTX founder Sam Bankman-Fried had become a major political donor.

How much is the cryptocurrency market worth in 2022?

As of the end of 2022, that market cap now stands at just $798 billion. The chaos in the cryptocurrency market came to a climax in November when crypto exchange FTX, which was once worth $32 billion, officially filed for bankruptcy protection.

Are cryptocurrency price declines and bankruptcies overshadowing the long-term thesis?

Bank of America analyst Alkesh Shah says recent cryptocurrency price declines and bankruptcies have overshadowed the long-term thesis for digital assets and blockchain technology. The top 100 cryptos are still up more than 2,000% on average since the end of 2016, and developer blockchain activity actually accelerated in 2022.

What's ahead for crypto investors in 2023?

Looking ahead to 2023, crypto industry experts expect more difficulties ahead for investors as rising interest rates continue to weigh on risk asset prices. Deposit $100 and get a $10 bonus! (US Only) FTX’s bankruptcy sent Bitcoin tumbling to new two-year lows under $15,600 in November, but Bitcoin prices stabilized in December.